Highlights from Chiesi Group's 2023 financial report:
- Sales increased to over €3 billion, up 10% compared to 2022
(+12% @CER), driven by the Rare business unit growth (65%
@CER), and steady growth of all products in all its Regions
- 24% of 2023 sales were devoted to R&D to create innovative
therapeutic solutions, focused on the needs of patients, caregivers
and the entire healthcare community
- Profitability remained around 30% for the fourth consecutive
year enabling the Company to pursue its expansion strategy.
PARMA, Italy, April 24,
2024 /PRNewswire/ -- In 2023, Chiesi, a
research-oriented international biopharmaceutical group
headquartered in Parma (Italy),
with 31 affiliates worldwide, showcased the efficacy of its
operating model centred around shared value, sustainability, and
high ethical standards. Through this approach, Chiesi continues to
deliver tangible benefits for patients, people, and the planet.
2023 business growth serving patient needs
Chiesi reached over €3 billion in sales – a 10% growth (+12%
@CER) on the previous year – maintaining an EBIDTA of approximately
30% for the fourth consecutive year.
Group
Revenues
|
2022
|
2023
|
Growth
@CER
|
Total
|
€2,749M
|
€3,026M
|
12 %
|
Air
|
€1,634M
|
€1,708M
|
6 %
|
Rare
|
€332M
|
€540M
|
65 %
|
Care
|
€783M
|
€778M
|
2 %
|
Financials
|
2022
|
2023
|
Growth
|
EBITDA
|
€827M
|
€893M
|
8 %
|
EBITDA %
|
30.1 %
|
29.5 %
|
|
In 2023, the Company reinforced its strong momentum across
geographies and business areas. At constant exchange rates (@CER),
growth was observed in all three of the Group's business areas (AIR
- respiratory diseases, RARE - rare and ultrarare diseases, and
CARE - specialty care, neonatology and consumer care) and across
all its Regions (US grew at 25%, Europe at 7% and China and International at 22%).
The focus on innovation continues to be central in the growth of
Chiesi Group. R&D investments reached almost 24% of total sales
in the year, fuelling both the internal pipeline and accelerating
external collaborations.
Highlights from the therapeutic areas
AIR
AIR Franchise encompasses products and services for the
treatment of respiratory diseases. It is the largest franchise,
representing more than 56% of sales and growing 6% @CER.
In March 2023, Chiesi enriched its
AIR portfolio thanks to the partnership with Affibody AB to develop
and commercialize innovative treatments for respiratory diseases.
In November 2023, Chiesi signed a
License Agreement with Haisco Pharmaceutical to develop,
manufacture, and commercialise a novel solution for
bronchiectasis.
RARE
The RARE Diseases Business Unit, the latest addition to Chiesi's
portfolio, is dedicated to providing advanced treatments for
individuals living with rare or ultra-rare genetic diseases. It
achieved over €500 million in sales propelled by strong organic
expansion and the strategic acquisition of Amryt Pharma Plc in
April 2023. This landmark achievement
marked a significant milestone in the Company's pursuit of
inorganic growth during a record year for investments, further
broadening the spectrum of rare disease areas served and extending
our impact to more patients in need.
CARE
CARE Franchise (specialty care, neonatology, and consumer
healthcare) continued to grow consistently across Chiesi Regions,
with sales up 2% @CER. At the end of 2023, Chiesi and Oak Hill Bio
achieved an agreement to develop, manufacture, and commercialise an
investigational drug candidate tailored to address the
complications of extremely premature birth. This milestone
underscores the Company unwavering commitment to advancing
innovative solutions and improving outcomes for the most vulnerable
newborns.
The Company consolidated the growth of critical care portfolio,
with a 22% @CER increase
Chiesi, the Place to be
Chiesi reached significant milestones related to its commitment
to people well-being. For the third consecutive edition, the
Company has been certified as a Great Place to Work™, now
spanning across 27 countries from the initial eight in 2019.
Progressing on its Gender Equality Global Challenge in adherence
with applicable legal frameworks and principles of fairness and
justice, Chiesi maintains a Zero Global Gender Pay Gap and was
recognised with the Fair Pay Certification early in 2024.
Our commitment to Planet
Chiesi remains steadfast in its pledge to achieve Net-Zero
greenhouse gases (GHG) emissions by 2035. In 2023, the Company
reinforced its dedication to combating climate change by actively
engaging with the Carbon Disclosure Project (CDP), where it earned
an A- rating in the Climate Change CDP questionnaire.
Furthermore, Chiesi's commitment to sustainability was recognized
with a Platinum medal in the Ecovadis sustainability assessment:
Ecovadis, a global leader for sustainability ratings, evaluates
companies' performance across environment, ethics, labour rights,
and sustainable procurement criteria.
These accomplishments underscore Chiesi Group's resolute
commitment to high sustainability and ethical standards, bolstered
by its governance model founded on transparency and accountability
as both a Benefit Corporation (in Italy, the US and France) and a B Corp certified company.
Commenting on the 2023 performances, Giuseppe Accogli, CEO of Chiesi Group said:
"The Company went through a significant transformation, adopting
a new operating model and adapting to market dynamics by creating
business Franchises and geographical Regions. This organizational
design aims to make Chiesi Group even more efficient and effective
on a global scale. This commitment is also reflected in the growing
number of top managers with valuable international and
multicultural expertise and in our ability to attract talents to
promote long-term prosperity and development. The accelerated
evolution experimented by the Chiesi Group in 2023 was consistent
with our shared value approach. This means addressing social
challenges and business opportunities together, fostering a culture
of inclusion, respect, and empowerment among Chiesi Group's 7,000
teammates".
Looking to a bright 2024
In 2024, the Company aims for a steady growth at a mid-to-high
single-digit rate, building on four years of consistent
profitability at 30%. With substantial cash generation and ongoing
potential for investment, Chiesi Group is well-positioned to fuel
growth through strategic acquisitions and new
R&D investments. Enhancing its commitment to patient care,
the Company will expand its value proposition in AIR, RARE
and CARE, while strengthening its pipeline.
Moreover, Chiesi is set to inaugurate operations at its new
Biotech Center of Excellence), in Parma, Italy, marking a significant leap in
capabilities for biologic drugs development and production.
In alignment with its dedication to sustainability, in 2024
Chiesi plans to establish new Net-Zero GHG emissions reduction
targets in line with the Science Based Target initiative (SBTi)
Corporate Net Zero standard.
Chiesi Group remains steadfast in supporting its employees as
parents and caregivers and in offering continuous training and
development opportunities to nurture future leaders.
Positioned at the forefront of industry trends, Chiesi is
committed in delivering l relevant value, enhancing patient
outcomes and creating shared value across the community, the
environment, and the stakeholders.
About Chiesi Group
Chiesi is research-oriented international biopharmaceutical
group that develops and markets innovative therapeutic solutions in
respiratory health, rare diseases, and specialty care. The
company's mission is to improve people's quality of life and act
responsibly towards both the community and the environment.
By changing its legal status to a Benefit Corporation in
Italy, the US, and France, Chiesi's commitment to create shared
value for society as a whole is legally binding and central to
company-wide decision-making. As a certified B Corp since 2019,
we're part of a global community of businesses that meet high
standards of social and environmental impact. The company aims to
reach Net-Zero greenhouse gases (GHG) emissions by 2035.
With over 85 years of experience, Chiesi is headquartered in
Parma (Italy), with 31 affiliates
worldwide, and counts more than 7,000 employees. The Group's
research and development centre in Parma works alongside 6 other
important R&D hubs in France,
the US, Canada, China, the UK, and Sweden.
For further information please visit www.chiesi.uk.com.
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